GOLD OIL, the London-based oil exploration company focused on the South American and Caribbean region, announces that in late December 2005, the Company received an Operator Certificate from PeruPetro that allows the Company to carry out seismic, drilling and development operations in Northwest Peru.
The Promotion Licence signed with PeruPetro on October 15, 2004 with PeruPetro for Block XI (now renamed Block XXI) onshore Sechura Basin has been converted to an Exploration and Production Licence. The Licence now goes to the Ministry of Energy and Mines for approval, which could be forthcoming anytime between February and May of this year 2006.
The terms of the E&P Licence commit the Company to either shoot 120 km of 2D seismic or drill a well in the first period of five over a seven year term. The remaining four periods require the Company to either drill a well or drop the acreage. The Licence is for a term of 30 years for oil and 40 years for gas, with a minimum royalty of 5% on wellhead production for the first 5000bopd (30 MMscfd for gas) rising to 20% if and when production reaches 100,000 bopd (600 MMscfd for gas).

Times Article:
Gold Oil is valued in the market at about �15m. That is so small that almost any good news must have a big impact on the share price.
What are the chances of that happening? Run by a former Burmah Oil director, Mike Burchell, Gold Oil will drill the first in a series of wells in the Sechura Basin in April. There will be surprise if it does not find gas, as another company, Olympic, has done just that in a similar formation nearby.
The secondary target, later in the year, will be oil, I gather. A couple of months ago, Petro Tech made a big oil find offshore in the Sechura Basin. The theory is the oil may have migrated up into Gold Oil�s block. Don�t ask me to explain the geology because I don�t speak Palaeozoic. But a decent oil find here would be a company-maker.
Gold Oil has enough cash to fund this year�s drilling programme. And it already has a deal in place to sell its gas to Mann Ferrostaal, a German company that is building an ammonia plant nearby. Getting all that for �15m seemed a bargain to me. But Gold Oil still has to find its gas.

GOLD OIL http://www.goldoilplc.com/index.html

Plectrum Web Site
http://www.plectrum.co.uk/splash_content.html

Wall Street Reporter Interview
http://www.wallstreetreporter.com/interview.php?id=17724&player=real
Growth Equities & Company Research Nov 2007
http://www.goldoilplc.com/docum/gecr_09Nov07_GoldOil_full.pdf
Gold Oil's Presentation On The 10/12/2007
http://www.proactiveinvestors.co.uk/pdf
Research Page Last updated Oct 23 2008
http://www.moneyam.com/InvestorsRoom/posts.php?tid=10572#lastread
6 AUG 2009 Operational and Reserves & Resources Update Colombia & Peru
http://moneyam.uk-wire.com/cgi-bin/articles/20090806084900H3062.html

Hi Capetown

There are two halves to a cat...the nice half with the pretty face and fluffy whiskers and the other half where the sh1t comes out of! Hope there is more GOOd news to come from this.

Mr Turbot,
You have hit the nail right on its HEAD!

back early next week perhaps!. hopeful of a good outcome.

It will be another couple of weeks yet, these things take time

http://www.goldoilplc.com

lizard this good news and we can all get back to normal again with this one. Hopefully the suspension will be lifted on monday. good luck to all still holding these.

What do we shareholders get,a POP UP MESSAGE!!!,
This is seriously begining to worry me.

plenty wouldnt have done that. deep breaths ct.

does anyone know the date the message that lizard put on the board on the 27th october was actually put on the website? This suspension is really dragging on now, it will be three weeks tomorrow.

nowt you can do about it, so not even worth sweating though it is somewhat tiresome

When shares are suspended they cant go down.

report and accounts for gold oil now out on money am.

FINAL RESULTS FOR THE YEAR ENDED 30 APRIL 2007

http://moneyam.uk-wire.com/cgi-bin/articles/20071101134600H5368.html

looks like the deal had to be taken out. they had to release results by yesterday. so in this case without the deal included?.

thanks to our chums at Minmet taking an eternity to sort themselves out.

Lizard,i guess on the brightside,itwont do anyharm not removing the suspension today,red sea out there.

who says it's just Minmet farting about?

wouldnt you like to know!

Gold Oil says plans to test potential oil and gas discovery in Peru
AFX


LONDON (Thomson Financial) - Gold Oil PLC said it plans to test the potential oil and gas discovery made in Block XXI in Peru and also drill a further two exploration wells on prospects in the centre and south of the block and on Block Z34.

The company said that in Colombia it plans to continue to expand production in the Nancy-Burdine-Maxine block with four or five re-entries planned for later this year.

Oil Gold, which also reported a widened full-year pretax loss at 1.83 mln stg from 557,000 stg a year earlier, added that production performance from its Nancy-1 well in Colombia has been encouraging and it sees better than expected potential from the Burdine field.

The company said it plans to drill another well on its Rosa Blanca license in Colombia.

It said it will start the process of acquiring a rig to allow an early start to exploration drilling in Cuba, and will continue to seek low-risk projects with potential for early cash flow.

TFN.newsdesk@thomson.com

to be honest lizard, i rather fear that no good news is going to come out of this suspension ..... as a golden rule, which of course can always be broken, good deals get done quickly and the bad ones drag on for ever and then stink

Have to say it Cynic but I agree, all the same with play suspended we're powerless to do anything about it.